Hello Friends,
Another day of Blow off. After Gap down opening the markets traded in very narrow range, Nifty on higher side was 2800 & lower side 2760. Some moves were seen in last hours of trade.
In last fall when Nifty went below 2700 levels it made low of of 2658 & at that time our magical level was 2666 this time when Nifty is trading below 2800 we have magical level of 2777. Today we have updated by sms too that we need to close around this level as this is last hope for the bulls.
Nifty too have good trendline support in range of 2750-2775, 2day whole day Nifty managed to hang around these levels. If we close below this levels for atleast 2 to 3 days then we can big fall in markets as we are updating these scenarios since last many days. But if it holds on then bulls will try to have upper hands.
NifTiee INTRA DAY LEVELS Close : 2771
Supports : 2750 / 2725 / 2690
Resistances : 2790 / 2810 / 2825
Gold Technical Views :
On 11th Feb 2009 we have updated our views for Gold on this website, link http://alliesfin.blogspot.com/2009/02/market-views-for-12-feb-2009.html
On that day we have mentioned that if Gold closes above 14400 then we would see target of 15200 - 15500 levels. The same targets have been achieved today & we would like to advise people to book profits in this range. In Comex the rates are around $ 970. In Dollar terms we got gain of only $50 in just 1 weeks time.
Silver Technical Views :
On the same date of 11th Feb 2009 we have also updated with our Buy call on Silver if close above 20800 & for target of 21200-21500. But today the prices are well above our target price & trading close to Rs 22500. Here too we would like to book profits. Just a gain of Rs 1700 to Rs 1800 in just 1 weeks time.
PROVISIONAL FUND FLOW FIGURES IN RUPEES CRORES FOR 17 FEB 2009 :
FII -462
DII +278
FII (Derivaives) +481 (Net)
DERIVATIVES STATISTICS :
From derivatives statistics, we can see that Roll overs have been started in many stocks & The PCR has come down from a level of 1.27 to 1.15. Continuous Put unwinding is happening at levels of 2,800-2,900.
Regards,
Allies Financial Services
Mumbai, India
Website : http://www.AlliesFin.BlogSpot.Com/
Email Group : http://Groups.Google.Com/Group/AlliesFin
